If you want a festive bargain, fly to New York

A survey published today has revealed that the Big Apple offers some of the best value gifts for Britons looking to save on their Christmas shopping – if they can afford the air fare. And those looking for trips to Christmas markets in Europe should head for Prague, another poll suggests.

Both surveys are from Post Office Travel Money which found that top fashion items can be as much as 73 per cent cheaper in New York than in London. Hollister men’s designer jeans, for example, cost £59 in London but can be as little as £16 in New York.

Post Office Travel Money also looked at the costs involved in a two-night trip to 10 European Christmas market destinations. Costs included in-resort expenditure such as meals and drinks. Prague proved the least expensive, with the total costs coming to £531. The most expensive destination was Brussels with costs of £810.

The surveys have been published as retailers prepare for what they predict will be the UK’s biggest day of shopping, with the annual US import Black Friday.

Despite the name, the sales extravaganza begins today with Amazon.co.uk beginning its Black Friday Deals Week at 8am with “lightning deals” every 10 minutes and heavy discounting.

But on Friday the UK high street, most online retailers and the malls will be slashing prices in the hope that it will kick off the Christmas shopping season. Visa Europe predicts that £360,000 will be spent every minute, or £6,000 per second, on its cards.